Acton Institute Powerblog

How information and incentives solve economic problems

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Note: This is post #18 in a weekly video series on basic microeconomics.

To solve economic problems we need to solve information and incentive problems. In this video, Alex Tabarrok looks at how Nobel Prize-winner Friedrich Hayek described the price system and its approach to solving the information problem.

In this video, we take a look at how Nobel Prize-winner Friedrich Hayek described the price system and its approach to solving the information problem.

(If you find the pace of the videos too slow, I’d recommend watching them at 1.5 to 2 times the speed. You can adjust the speed at which the video plays by clicking on “Settings” (the gear symbol) and changing “Speed” from normal to 1.25, 1.5 or 2.)

Previous in series: The great economic problem

Call of the Entrepreneur

Call of the Entrepreneur

A merchant banker. A failing dairy farmer. A refugee from Communist China. One risked his savings. One risked his farm. One risked his life.

Why do their stories matter? Because how we view entrepreneurs - as greedy or altruistic, as virtuous or vicious - shapes the destinies of individuals and nations.

Visit the official Call of the Entrepreneur website for more information.

Joe Carter Joe Carter is a Senior Editor at the Acton Institute. Joe also serves as an editor at the The Gospel Coalition, a communications specialist for the Ethics and Religious Liberty Commission of the Southern Baptist Convention, and as an adjunct professor of journalism at Patrick Henry College. He is the editor of the NIV Lifehacks Bible and co-author of How to Argue like Jesus: Learning Persuasion from History's Greatest Communicator (Crossway).

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